EyePoint reports Q1 EPS (56c), consensus (68c)

Reports Q1 revenue $7.683M, consensus $7.43M. "In the first quarter, we continued to successfully execute on our key objectives across all areas of the business. Most importantly, we announced the completion of enrollment in our Phase 2 DAVIO 2 clinical trial evaluating EYP-1901 in wet AMD. We were particularly pleased by the high level of physician and patient interest, which resulted in the oversubscription of the trial to 160 patients compared to the original target of 144 patients. We look forward to announcing topline data from the DAVIO 2 trial in the fourth quarter of this year," said Nancy Lurker, Chief Executive Officer of EyePoint Pharmaceuticals. "Combined with the Phase 1 DAVIO results, the Phase 2 DAVIO 2 data read-out will represent the most robust dataset among tyrosine kinase inhibitors in development for wet AMD. In addition, the body of evidence for EYP-1901 and vorolanib from both the clinical and non-clinical data to-date, combined with the drug’s proven anti-VEGF pharmacological mechanism across VEGF-mediated retinal diseases, support a strong proof-of-concept for EYP-1901 in NPDR. Accordingly, we have modified the trial size to enroll a minimum of 60 patients for the Phase 2 PAVIA clinical trial evaluating EYP-1901 in NPDR, which allows for enrollment completion ahead of schedule in the second quarter of this year, an accelerated path to Phase 2 data in the first half of 2024 and, subsequently, an earlier initiation timeline for the Phase 3 clinical trials. We look forward to providing additional clinical updates in the quarters to come."